Pre-budget discussion in Pokhara

Pokhara, June 29: A pre-budget discussion programme was held in Pokhara on Sunday.

On the occasion, representatives of Federation of Nepalese Chamber of Commerce and Industry (FNCCI), businesspersons, industrialists and intellectuals suggested that the government should reduce the tax rate but increase the tax ambit, implement the budget and increase the capital expenditure.

The speakers further said that the state should allocate some allowance to the elderly taxpayers for their living, revenue collection should be achievement-targeted instead of goal-riented and the budget should make the economic activities movable.

On the occasion, Revenue Secretary of the Finance Ministry, Nabaraj Bhandari, said that there would not be lack of the capital expenditure for the development projects.

Bhandari also said that the foreign loans would be reduced, thanks to rise in revenue collection and added that the foreign donors were emphasising to give loans instead of grants due to Nepal’s increased capacity of paying loans.

Revenue Secretary Bhandari said that honest taxpayers should be given more supports while time has come to take the stern actions to the wrongdoers and dishonest taxpayers so that they would not get chances to rise again.

Likewise, Director General of Inland Revenue Department Chudamani Sharma said that revenue collection could be around Rs 480 billion due to deadly earthquake of April 25 despite the government target to collect Rs 512 billion in the current fiscal year.

Also speaking at the programme, Director General of Customs Department Sishir Dhungana said that the government was positive to protect industries and factories even by reducing the rate of customs.

Similarly, Director General of Revenue Investigation Department Bal Krishna Ghimire said that the new budget would work to uplift the tourism and replace the imports.